Finco to invest Rs 2.2 billion
Plans 3 more hotels:
Uga Resorts (Pvt) Ltd, a fully-owned subsidiary
of the Finco Group of companies will invest a further Rs 2. 2
billion to construct three additional hotels. Finco Vice President
Priyanjith Weerasooria said in addition they have already invested
Rs 800 million for their first boutique property investment,
Ulagalla Resort, in Thirappane, Anuradhapura.
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Pan Asia ups first half net profit
Pan Asia Bank announ- ced completion of a very
successful first half in 2011, with net profit after tax increasing
to Rs 406 Mn which is 169 percent better than the corresponding
period for 2010. The Bank’s net interest income for the period rose
by 43 percent to Rs 1,024 mn from Rs 716 mn in 2010 which came
mainly from the core banking income.
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SAARC moots single SIM
An eleven pronged strategy was advocated for the
region which also included a common Subscriber Identity Module (SIM)
at the SAARC Chamber of Commerce and Industry (SCCI) conference
yesterday.
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